BURRELL JONATHAN 4

4 · GARMIN LTD · Filed May 18, 2026

AI-generated summary of this filing

Updated May 18, 2026

Garmin (GRMN) Director Jonathan Burrell Gifts 270,000 Shares

What Happened

Jonathan Burrell, a director of Garmin Ltd. (GRMN), reported multiple gift (G) transactions: on May 15 he both disposed and acquired 88,000 shares (each at $0.00), and on May 18 he both acquired and disposed 182,000 shares (each at $0.00). All transactions are coded as gifts, so no cash changed hands; the filing shows $0 value for each leg.
The reported transactions total 270,000 shares acquired and 270,000 shares disposed, resulting in no net change in reported holdings from these transfers alone. Gifts like these typically reflect transfers among trusts or family accounts rather than market purchases or sales.

Key Details

Transaction dates and price: May 15, 2026 — Gift of 88,000 shares (acquired) and Gift of 88,000 shares (disposed) at $0.00; May 18, 2026 — Gift of 182,000 shares (acquired) and Gift of 182,000 shares (disposed) at $0.00.
Net change: 270,000 shares acquired and 270,000 shares disposed; net zero change from these reported transfers.
Shares owned after transaction: Not explicitly quantified in the transaction lines. Footnote F1 indicates holdings consist of 8,493 registered shares plus unvested RSUs (these RSUs can be settled only in registered shares, with 858 shares vesting on June 6, 2026).
Notable disclosures: Multiple footnotes (F2–F6) show Burrell acts as co-trustee/manager of various GRATs and trusts; he disclaims beneficial ownership of securities held in several trusts except to the extent of pecuniary interest. These notes imply the gifts involved trust/remainder transfers.
Timeliness: Form 4 was filed May 18, 2026 for transactions on May 15, 2026. This filing was timely (within the SEC’s two-business-day requirement).

Context

Gift transactions (code G) generally reflect estate planning or transfers among related accounts and do not necessarily signal the insider’s view of the company’s stock. Because Burrell disclaims beneficial ownership for several trust-held securities, these reports document legal transfers rather than open-market trading activity.

Form 4

Period: 2026-05-15

Director

Transactions

Gift
Registered Shares
[F3]
2026-05-15−88,000→ 4,409,752 total(indirect: By GRATs)
Gift
Registered Shares
[F6]
2026-05-15+88,000→ 182,000 total(indirect: By Trust)
Gift
Registered Shares
[F3]
2026-05-18+182,000→ 4,591,752 total(indirect: By GRATs)
Gift
Registered Shares
[F6]
2026-05-18−182,000→ 0 total(indirect: By Trust)

Holdings

Footnotes (6)

[F1]Consists of (a) 8,493 Registered Shares and (b) unvested restricted stock units (RSUs) awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs vest as to 858 shares on June 6, 2026.
[F2]The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interests therein.
[F3]The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
[F4]The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit.
[F5]The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.
[F6]The reporting person is a co-trustee of his mother's revocable trust and his mother's attorney-in-fact and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Signature

/s/Jonathan Burrell|2026-05-18

1 file